EUR/USD 1.15967
-0.291%
Gold 4440.33
-1.059%
Oil 94.120
2.676%
USD/JPY 160.033
0.068%
GBP/USD 1.34140
-0.372%
GBP/JPY 214.673
-0.306%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
June 4th - The Federal Reserve stated that economic activity in most parts of the United States has grown at a moderate pace in recent weeks, while employment has remained largely unchanged. In its latest Beige Book, the Fed indicated that inflation levels in most Fed districts were higher than in the previous report, primarily due to the impact of the Middle East wars on energy prices. Since the outbreak of the war with Iran, rising energy prices have raised concerns about sustained inflation, leading more policymakers to believe they need to retain all policy options, including a tighter monetary policy. However, many officials stated that current interest rate conditions remain favorable.The Central Bank of Tunisia maintained its benchmark interest rate at 7%.June 4th - The Federal Reserve stated on Wednesday that U.S. economic activity has increased slightly in recent weeks, while employment has remained largely flat, and the effects of rising energy prices due to the Middle East conflict have spread across various sectors. In its latest Beige Book report, the Fed stated, "The business outlook for the next six months is little changed in terms of expected growth, as heightened uncertainty and signs of weak consumer spending dampened market sentiment." The report added, "Regions noted that energy costs related to the Middle East conflict were the primary driver of inflationary pressures, with their impact spilling over into the transportation, packaging, grocery, and fertilizer sectors."Hungarian Prime Minister Majol: This agreement may pave the way for Hungary to approve the first phase of Ukraines accession negotiations with the EU.Hungarian Prime Minister Majol: The government does not support accelerating the negotiations for Ukraines accession to the European Union.

After recovering from 0.8600 prior to ECB Lagarde's speech, the EUR/GBP pair continues to advance

Daniel Rogers

Dec 08, 2022 15:31

 EUR:GBP.png

 

The EUR/GBP pair has strengthened its rebound to roughly 0.8615 during the Asian session. As investors moved their focus to Christine Lagarde's speech for the European Central Bank, the cross rebounded well after touching Wednesday's low at 0.8600. (ECB).

 

The ECB President's comments will provide fresh impetus for the anticipated monetary policy adjustments at the December monetary policy meeting. Despite the fact that ECB policymakers believe the central bank has imposed a significant deal of pressure on interest rates and that a neutral rate is close at hand, a December rate hike is more likely due to Eurozone inflationary pressures.

 

The median consumer inflation forecast for the next 12 months jumped from 5.0% to 5.4%, according to a survey conducted by the ECB. Inflation forecasts for the next three years remain unchanged at 3%. Therefore, markets should anticipate a hawkish statement on interest rate policy from the ECB president.

 

The monthly Retail Sales statistics declined by 1.8% this week, although analysts had projected a 1.7% decline. In addition, annual Retail Sales declined by 2.7% versus the consensus projection of a 2.6% decline. In the absence of other variables, a decline in consumer spending indicates that inflation will soon decelerate.

 

The escalating food supply problem in the United Kingdom is driving already high food inflation, resulting in an increase in inflationary expectations. Rising input costs and labor constraints are producing a food supply shortage, which is anticipated to increase food inflation from its current 12.4% level. This might exacerbate the decline in the British economy and have repercussions for the pound.


Suggestion